Insight Venture leads $165m series-B round for Tricentis

As part of the deal, Tricentis's previous investor, Viewpoint Capital Partners, has sold its stake in the business, making Insight the sole investment firm holding a stake in the business, according to press reports. Viewpoint is understood to have fallen into insolvency in March 2015 and was since taken over by London-based venture house Kennet Partners.

The company is keen on using the fresh capital to boost its market penetration and scale its operations. The deal saw Insight managing director Mike Triplett and venture partners Emmet B Keeffe III and Philip Vorobeychik join the company’s board of directors.

Previous funding
In December 2012, Frankfurt-based VC firm Viewpoint led a seed round for the business, reportedly worth $9m.

Company
Founded in 2008, Tricentis develops software testing tools for automatisation processes.

Headquartered in Vienna, the business also has a presence in Australia, Germany, India, Netherlands, Switzerland, Poland, the US and the UK, and is understood to employ a staff of 265 people.

The company currently claims 400 enterprises among its client base, including HBO, Whole Foods, Toyota, Allianz, BMW, Starbucks, Deutsche Bank, Lexmark, Orange and UBS.

People
Insight Venture Partners – Mike Triplett (managing director); Emmet B Keeffe III, Philip Vorobeychik (venture partners).
Tricentis – Sandeep Johri (CEO).

Advisers
Company – KeyBlanc Capital Markets (M&A); O’Melveny & Myers (legal); Wolf Theiss (legal).

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• Topics
• Expansion
• Technology
• DACH
• Insight Venture Partners
• Austria